Economists have warned the recent slowdown experienced by the U.S. economy carries with it "the unmistakable whiff of a recession."

https://www.newsweek.com/economic-recession-2019-us-economy-...

"US recession risk rises as trade tensions with China remain unresolved"

https://www.foxbusiness.com/economy/us-recession-risk-rises-...

"Morgan Stanley says economy is on ‘recession watch’ as bond market flashes warning"

https://www.cnbc.com/2019/05/28/morgan-stanley-says-economy-...

Inverted yield curve, corporate profit margins starting to shrink, cost of hiring going up due to wages hitting rock bottom, and the likelihood of a quick resolution to the trade war becoming less and less likely.

On the flip side, housing prices look strong (though that might have more to do with undersupply than strong demand) and consumer confidence is still high. If one or both of these start dropping, that would be an even bigger indicator that we are close to recession.